Despite the nature of recent cyberattacks, TransUnion’s study found that fraudsters are shifting their attention away from financial services and towards the leisure, travel, and gambling industries.
According to the study’s findings, approximately 36% of global respondents said they had been affected by digital fraud scammers related to COVID-19. A large percentage of approximately 39% are from the United States.
Melissa Gaddis, senior director of customer success, Global Fraud Solutions at TransUnion stated “One in three people globally have been targeted by or fallen victim to digital fraud during the pandemic, placing even more pressure on businesses to ensure their customers are confident in transacting with them”.
The study shows the following key results:
– Phishing was the most common COVID-19 digital fraud worldwide in Q2 2021;
– More than one-third of global customers say they have been the victim of COVID-19 digital fraud;
– The second most cited type of COVID-19 online fraud, card scams, affected customers worldwide and was responsible for 24% of all attempts;
– Phishing topped the list at 35% in the U.S.;
– Stolen credit cards or fraudulent charges account for 31% of online fraud attempts in the U.S.
Attempts at digital fraud have grown in the United States
Comparing the second quarter of 2021 to the second quarter of 2020, the rate of suspected digital fraud attempts worldwide increased by 16.5%. During the same period, the rate of digital fraud attempts in the United States increased at a similar pace (17.1%), according to Help Net Security.
As the two industries most affected by alleged digital fraud attempts globally, the gaming and travel and leisure industries saw year-over-year increases of 393.0% and 155.9%, respectively. In the United States, this rate increased 261.9% in the gaming industry and 136.6% in the travel and leisure industry.
According to the Financial Services Fraud Report, Internet fraud efforts in the financial services business surged 149% between January and April of 2021. The rate of suspected online financial services fraud attempts grew between the second quarters of 2020 and 2020, 18.8% internationally and 38.3% in the US.